October 05, 2010
Federal Reserve announces results of auction of $5 billion in 28-day term deposits held on October 4, 2010
For release at 12:00 p.m. EDT
On October 4, 2010, the Federal Reserve conducted an auction of $5 billion in 28-day term deposits through its Term Deposit Facility. Following are the results of the auction:
| TDF Auction ID: | A14 |
| Competitive Amount Offered: | $5,000,000,000 |
| Competitive Amount Tendered: | $13,608,290,000 |
| Competitive Amount Awarded: | $5,000,000,000 |
| Non-Competitive Amount Awarded: | $113,410,000 |
| Total Amount Awarded: | $5,113,410,000 |
| Stop-Out Rate: | 0.26900 percent |
| Bid-to-Cover Ratio: | 2.72 |
| Number of Bids Submitted: | 108 |
| Number of Participants Submitting Bids: | 74 |
Bids at the stop-out rate were pro-rated at 28.00 percent. Resulting awards were rounded to the nearest $10,000 except that all awards below $10,000 were rounded up to $10,000.
The awarded deposits will settle on October 7, 2010, and will mature on November 4, 2010. The stop-out rate shown above will apply to all awarded deposits.